The Wrong Property Management Leads Will Kill Your Growth

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Not All Property Management Leads Are Equal

Have You Ever Said: "I just need more leads!"
We call this the "Leads Myth" and marketers will take advantage of you if you believe it...

The Cycle Of Suck: Some Leads Create High Operational Costs

If you take on bad clients, it leads to bad properties, which leads to difficult tenants, which leads to bad reviews... which then attracts more bad clients. Companies caught in the cycle of suck know that one bad client or bad property could easily take 10 times the amount of work to manage. This high operational cost can easily eat up all your profits.

4 D's to Revenue: Some Leads Have 100x the Lifetime Value

The 4 D's are Deals, Doors, Duration, & Dollars. These are 4 numbers when multiplied equal your revenue. Some leads, like accidental investors may only have 1 Deal x 1 Door x 1 Year and are cheap owners. Healthier leads, like seasoned, buy-and-hold investors may do 10 Deals x 10 Doors x 10 Years and are more of a normal, or premium buyer.

Cold Vs. Warm Leads: Some Leads Cost Too Much Money & Time

Everyone knows the difference between a cold lead that doesn't know you, trust you, or like you and a warm lead, like a word-of-mouth referral. Cold leads typically have a 10% or worse close rate, while warm leads have a 90% or better close rate. Cold leads are expensive and involve things like paid advertising and they take a lot longer to nurture and warm up to close the deal.

Blue vs Red Ocean: Some Leads Bring The Most Difficult Owners

In the United States there are more properties that are self-managed than those professionally managed by a property manager. There is no scarcity. The most difficult and price-sensitive leads are those garbage scraps that fall off the word-of-mouth table, that are now view all property managers as similar, and are now just searching on the internet for the lowest price. These clients have high operational costs and create a race to the bottom in the industry in terms of price.

The Myth of SEO: The Worst Leads Are Searching the Internet

There is very few people searching for property management on Google which results in many businesses competing in spending a lot of money to target very few leads. According to Google Trends search volume hasn't grown since Google started tracking data back in 2004, but competition over the last decade has increased dramatically. The largest companies are spending $3000-5000/mo in many markets on things like SEO, PPC, content marketing, social media marketing, or pay-per-lead services. The problem is there aren't enough people searching for property management, so they are maxing out their ad budgets! This creates false scarcity & marks up ad costs making it difficult for small PM businesses to compete. The best leads are not looking on the internet.

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The Secret to Attract the Best Property Management Leads

Get Free, Organic, Warm Leads by Using DoorGrow Growth Engines

Realtor Intros Growth Engine - 10x Better than Realtor Referrals

Most property managers have tried getting referrals from real estate agents. Maybe you have gotten a few, but nothing dramatic. The problem with referrals is that you are expecting investors to reach out to their real estate agents for property management help (almost never happens) and then the real estate agents to sell others on your business (they aren't motivated to or good at selling property management). We have helped clients 10x the amount of business they get from real estate agents by focusing on a better strategy we call Realtor Intro's. One of our clients went from 80 doors to 310 in a year from just 6 real estate agents!

Neighbor Strategy - Neighboring Property Managers Can Send You Business

How many times have you been called and asked if you manage in an area only to tell them no and hang up? That is a perfectly good lead... for someone else! What if others around your market or management companies in your market that do a different type of management were all capturing leads for you? In our DoorGrow Neighbor Strategy growth engine we also teach you how to convert those cold, low-close-rate leads collected by your neighbors into 90%-close-rate, warm leads.

Leveraging One-to-Many by Using Group Presentations

Ever presented to a group and not gotten much out of it? We coach you on how to walk away with a pile of leads from every group interaction by making some simple shifts to your presentation. You can present to a group of real estate agents and identify which ones have investor clients and get them to provide you their name, email, and phone. You can also present to a group of investors and get many of them incentivized to opt into a quick call with you.

... And Several Other Ideas for Dramatic Growth

What PM Marketing & SEO Agencies Don't Want You to Know...

You Don't Need them...

Reputation Trumps Marketing

Although few internet marketers will tell you this, it is the truth: You will get more leads (that are far easier to close) by having a good reputation, than by doing any gimmicky content marketing, awkward videos, or pay-per-click.

Also, marketing easily becomes twice as expensive when you have a bad reputation.

Marketing is a Luxury

Being able to do effective marketing in PPC, SEO, etc. to generate leads requires lots of money & making sure you have several key ducks in a row so you don't hemorrhage your marketing dollar... such as making sure every phone call is answered, having a follow-up system in place, and having a solid sales process. If you are a smaller property management company you will have a very difficult time competing in this space because you just don't have the budget and resources.

It also isn't effective unless you have the proper foundation in place (effective branding, a website focused on lead capture, a solid reputation strategy, a defined sales process).

Prospecting Costs Far Less & Nets More

Prospecting effectively costs far less than marketing and can bring in far more leads than expensive marketing methods. It would be ridiculous for a business owner to start with marketing before first implementing some solid prospecting methods to generate consistent leads.

Well-prospected leads work much like word of mouth, take less time to close, & have a much higher close rate. Many avoid doing this, which means they lose to those who do.

Sales is a Common Property Management Blindspot

If you have largely grown your business through word of mouth, then you likely think you have a really high close rate (70% or higher). This is because you don't really have to sell word-of-mouth leads on using you, they are already sold.

The reality is most property managers usually have a close rate of 10% or lower when it comes to internet based leads & often mistakenly blame the lead sources. Why? They don't have a solid sales process or know how to sell effectively.

Your Website is Leaky & Costing You Thousands

Ironically property managers often skimp on their website in order to save a buck. Sounds smart right? Then they miss out on multiple deals a month due to having a leaky website. Spending more on marketing just wastes more money if your website is leaky. You'll spend far more per lead.

This means you are missing out on several thousands of dollars in future revenue, every month, because of a website that saved you a few thousand dollars.

Do the math & you will know why the savviest property managers choose to have us do their websites.

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